Sugar Looks Lower
Each evening we focus on the most interesting aspects for the upcoming trading day. The comments are based on observations of the nightly updates of the Futures and Market Bias pages. They are provided for educational purposes only and are not intended to be direct trading advice. Also, keep in mind that these remarks are made up to 12 hours in advance of the markets opening. Therefore, overnight events may alter the outcome of these observations.
At the time this is being published, the S&P Globex Futures are trading 2.20 points lower and the bond market is unchanged.
March Sugar [SBH0>SBH0], on the Pullbacks From Lows List, closed poorly and looks poised to resume its downtrend. Look for a shorting opportunity here.
March Wheat [WH0>WH0], on the Implosion 5 List, closed poorly today and looks poised to resume its downtrend. Look for a shorting opportunity here.
The December Japanese Yen [JYZ9>JYZ9], mentioned over the past few nights, began to rally out of a pullback today. Continue to look for a buying opportunity here (or in the March contract, [JYH0>JYH0]).
Best of luck with your trading on Wednesday!
Dave Landry
PS-Reminder: Protective stops on every trade!